August 27, 2008
To whom it may concern:
This email affirms my deep opposition to the proposed changes suggested in this regulation. It is not in the best interest of the consumer. It will only benefit selected individuals finacially, while putting the consumer at complete risk for economic loss. The equity indexed annuties provide guarantees which are not necessariarly offered by brokers.
The primary goal of insurance agents should be to provide guaranteed stable growth to savings, however a few roague individuals have crossed the line. The industry has built in restrictions and regulators to deal with such persons and this system has and is working exceptionally well. The proposed system will limit the choices individuals have in choosing wisely where to put their hard earned dollars. (Like putting the fox in charge of the hen house)
Thank you for the opportunity to comment.